Consumer Reports and other organizations rank companies on the quality of their products and the reliability of their services. These companies provide an:
A. insight into the organization's mission and vision.
B. external check for corporate honesty.
C. incentive for corporate cheating.
D. internal audit function for corporate honesty.
Answer: B
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In the language of economics, which of the following would be defined as investment?
a. The purchase of a U.S. savings bond b. The purchase of 100 shares of Ford Motor Company stock c. The deposit of $1,000 into a savings account d. The purchase of $500 worth of gold e. The accumulation of inventories by a firm
A positive externality exists and government wants to apply a per-unit subsidy in order to bring about an efficient outcome. Under what condition will the solution (the subsidy) be worse than the problem (the market failure)?
A) Under the condition that the subsidy is greater than the marginal external benefit (associated with the positive externality). B) Under the condition that the post-subsidy output is not farther away from the efficient level of output than the pre-subsidy output is from the efficient level of output. C) Under the condition that the post-subsidy output is farther away from the efficient level of output than the pre-subsidy output is from the efficient level of output. D) Under the condition that the subsidy is less than the marginal external benefit (associated with the positive externality). E) none of the above
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
According to the graph shown, if the economy were operating under free trade and then imposed a tariff, the overall impact on surplus would be a net:
A. gain of IJKL. B. loss of IJKL. C. gain of FGHIJKL. D. loss of IL.
Data from the registrar's office at Gigantic State University indicate that over the past 20 years tuition and enrollment have both increased. From this information we can conclude that:
A. higher education is an exception to the law of demand. B. the supply of education provided by GSU has also increased over the 20-year period. C. school-age population, incomes, and preferences for education have changed over the 20- year period. D. GSU's supply curve of education is downsloping.